General Credit Topics

[2anewu]

Hi everyone, I just wanted to know if cc company's updated monthly---then why did my cc balance update after the "monthly" update? My cc balance on my report date (15th of each month) was $35 and now it is $176 which is showing on my updated TC reports. Why update them "monthly" if they can report anytime? Too tired to figure out--Thanks.

[so_confused]

Some CC report the balance at the statement close and some report the balance on the day they update. You will have to look back at your report to figure out who does what.

[2anewu]

Okay, so tell me if this is right. Cap1 reports to the CRA's on the 15th of each month (for me), but when I updated my report the new balance showed up. Can they report twice in one month or worse even more than that?

[Tuscani]

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2anewu wrote:

Okay, so tell me if this is right. Cap1 reports to the CRA's on the 15th of each month (for me), but when I updated my report the new balance showed up. Can they report twice in one month or worse even more than that?

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Technically, they can report every day if they want. But they generally don't.

[2anewu]

Just my luck! Thanks.

[chartley3]

Most CC companies report to the CRA's the same day they generate your monthly statement. They best eay to find out when your CCC does it is simply call them and ask.